DEVELOPMENT and EFFECTIVENESS of TURKISH INSURANCE SECTOR

Abstract

One of the most important indicators of an economically developed level of an economy is the financial sector. The banking and insurance sectors are the two main actors of the financial sector. The insurance sector is one of the most important parts of the finance sector which makes contribution to development of capital accumulation in the economy and provides direct support to the economic development by establishing long term funds. The insurance sector, which has developed significantly in our country especially after 2000 years, is one of the sectors with the greatest development potential in the years to come. The objective of this study is to analyse financial performances of insurance sector in Turkey with help of various ratios analysis. The financial statements of insurance sector for four periods included in the period of 2006 to 2016 were addressed by the methods of ratio analysis and analysis of comparative financial statements. The obtained basic financial sizes and indicators of the insurance sector were commented mutually in order to measure the development and effectiveness of the insurance sector. Entire insurance sector (non-life insurances and life-retirement insurances) is included in the study.